HK Stock Market Move | SINOHYTEC(02402) rose by over 9% again, Henan announced that hydrogen-powered vehicles will be exempt from high-speed tolls, hydrogen-powered cars have the potential for commercialization.

SINOHYTEC (02402) rose by more than 9%, reaching a 7.28% increase as of the time of the announcement, at 22.1 Hong Kong dollars, with a trading volume of 6.2155 million Hong Kong dollars. On the news front, starting from January 25th, hydrogen fuel trucks are exempt from tolls in Henan. Since Shandong province first introduced the policy of exempting hydrogen vehicles from highway tolls in 2024, provinces such as Sichuan, Jilin, Shanxi, and Hubei have successively followed suit. Sinolink hydrogen analyst Yao Yao pointed out that with the continuous improvement of the hydrogen production-supply-storage-sales network, coupled with demonstration cities, subsidies, and cost reduction factors, the volume of hydrogen fuel cell vehicles is continuously being implemented, and hydrogen vehicles now have commercial potential. It is worth noting that SINOHYTEC previously announced that the company plans to jointly increase its capital by a total of 1.9 billion yen with Toyota to the joint venture company Huafeng Fuel Cell Co., Ltd. Analysts said that this capital increase in Huafeng Fuel indicates that SINOHYTEC and the international giant Toyota will continue to strengthen their cooperation, deepen cooperation, and continue to promote the development and commercial application of the hydrogen energy industry. In the future, Huafeng Fuel will be more capable of participating in the bidding and tendering work of large projects, and is expected to achieve more breakthroughs and results in the field of hydrogen energy.